By Jaime Llinares Taboada 



  Egdon Resources PLC said Monday that it will move forward with Royal Dutch Shell PLC's farm-in for its offshore U.K. Resolution and Endeavour gas discoveries after the licenses were extended. 


  The London-listed company said that the Oil & Gas Authority extended licenses P1929 and P2304 to May 31, 2024 subject to exploration targets. 


  The group said that, following the operation, it will retain a 30% stake in the licenses, and Shell will pay 85% of the 3D seismic survey and 100% of all studies and manpower costs through the well investment decision. 


  Shares at 0710 GMT were up 0.05 pence, or 2.4%, at 2.15 pence. 


  Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT